How To Buy Bitcoin in Singapore / Canada
Anyone may purchase Bitcoin with Singapore Dollars (SGD), Canadian Dollars (CAD), or US Dollars (USD) with the help of Coinut (Coins U Trust). In this exclusively curated beginner's guide, you will discover how to buy Bitcoins in Singapore and Canada, as well as how to safely keep them in your Coinut wallet.
1.Sign Upfor Coinut
To buy Bitcoins in Singapore and Canada, the first step is to register for a Coinut account. By signing up, you will be given a secure Coinut wallet where you can store your Bitcoins. Additionally, this digital currency wallet will offer easy payment options for purchasing digital currencies using SGD, CAD, or USD.
2. Connect your Bank Account
Prior to using the account, you will need to complete a few quick verification procedures after signing up. Simply fill out the Customer Due Diligence form and link your bank account to your digital wallet. After the verifications are completed, you may proceed to begin a transaction.
3. Buy, Sell or Trade Bitcoin
Following your purchase of Bitcoin on Coinut, we will safely store them in your Bitcoin wallet, where they will be visible in your Balance Status. 'Selling' operates similarly but in reverse. You may now proceed to buy, trade, or sell Bitcoins in Singapore and Canada. Moreover, you will receive updates from our cryptocurrency exchange in regards to any changes to the Bitcoin price.
Learn more:Step-by-Step Guide
What is Bitcoin?
As of 2019, the birth of the Bitcoin exchange in Singapore and beyond came about when an entirely new type of currency, BTC, is exchangeable via the internet attributable to the open-source software known as Bitcoin. With the utilisation of peer-to-peer networking and public key cryptography, Bitcoin was developed by an unidentified person or group operating under the pseudonym Satoshi Nakamoto with the goal of providing a 'peer-to-peer digital cash system' that eliminated intermediaries from online transactions.
The result of the creation of Bitcoins has only meant that money could then be introduced to an economy on a schedule that was independent of the control of any central bank or operator for the first time. That said, only 21 million Bitcoins - which may be divided into many smaller units - may ever be generated, as stated in the software's regulations.
By establishing true digital scarcity, Bitcoin would later attract a new generation of traders who perhaps now see BTC as a competitive alternative to traditional monies and gold.
Why should I buy Bitcoin?
When you buy Bitcoins in Singapore and Canada through Coinut, they can be used for a variety of purposes. Among them are:
- Pay for products and services.
- Utilise your coin as a store of value by holding on to them.
- Send money to family and friends.
- Include them in your short-term or long-term trading plan.
What can I do with Bitcoin?
You have learned how to buy Bitcoins in Singapore and Canada, but what is next? The following are three of the most popular options to consider after purchasing Bitcoins;
1. Hold/store Bitcoin
Numerous users hold on to their Bitcoins in the hope that their value will rise. In the meantime, you may store your Bitcoin safely in our secure Coinut cryptocurrency wallet.
2. Spend Bitcoin
Bitcoins may be used to pay for products and services. Both large corporations and small enterprises are now accepting Bitcoin as a form of payment.
3. Buy, sell, and trade Bitcoin
You may trade, buy, and sell Bitcoin in Singapore and Canada with Coinut for other cryptocurrencies.
Start buying BTC
Experience the Bitcoin exchange in Singapore and beyond with Coinut today! If you’re ready to take the next step in buying some Bitcoins, Litecoin, or Ethereum, do not hesitate to sign up with Coinut.
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